2017: Schweikert Voted For The House GOP's 2017 Tax Reform Plan Which Significantly Cut Taxes For The Rich And Corporations And Repealed The Tax Deduction For Teacher's Non-Reimbursed Classroom Costs. In November 2017, Schweikert voted for reconciliation legislation which significantly altered the federal tax code. According to Congressional Quarterly, "The bill substantially restructures the U.S. tax code to simplify the code and reduce taxes on individuals, corporations and small businesses. For individuals, it consolidates the current seven tax brackets down to four and eliminates or restricts many tax credits and deductions, including by eliminating the deduction for state and local income taxes and limiting the deduction for property taxes to $10,000 and the interest deduction for a home mortgage to the first $500,000 worth of a loan. [...] On the business side, it reduces the corporate tax from 35% to 20% and establishes a 'territorial' tax system that would exempt most income derived overseas from U.S. corporate taxation. It allows businesses to immediately expense 100% of the cost of assets acquired and placed into service, and for small businesses it raises the Section 179 expensing limit to $5 million for five years. It also establishes a 25% rate for a portion of pass-through business income that would otherwise have to be paid at the ordinary individual tax level, and for small businesses where an individual would receive less than $150,000 in pass-through income it taxes the first $75,000 of that income at a 9% rate." The vote was on passage. The House passed the bill by a vote of 227 to 205. President Trump later signed an amended version of the bill into law. [House Vote 637, 11/16/17; Congressional Quarterly, 11/15/17; Congressional Actions, H.R. 1]
Bill Repeals The Tax Break Where Teachers Can Deduct $250 Of Non-Reimbursed Classroom Expenses. According to Politico, "On the secondary school side, the House GOP plan scraps a tax break that allowed teachers to deduct up to $250 in out-of-pocket expenses for the classroom." [Politico, 11/2/17]
National School Supply And Equipment Association 2013 Study: Over 99 Percent Of Teachers Use Their Own Money On School Supplies With An Average Cost Of Nearly $500. According to Time Magazine, "An Oklahoma teacher drew national attention earlier this year when she panhandled for school supplies at a highway intersection. At the time, she said she typically spends $2,000 to $3,000 of her $35,000 salary on classroom supplies each year. A 2013 study by the National School Supply and Equipment Association found that 99.5% of teachers use their own money on school supplies, spending $485 on average in one school year." [Time Magazine, 11/9/17]
2015: Schweikert Voted For Extending Permanently The 'Above The Line' Deduction For Teachers On Out-Of-Pocket Classroom Expenses As Part Of A Larger Tax Extender Passage. In December 2015, Schweikert voted to extend permanently the above the line deduction, up to $250, for out of pocket classroom expenses. According to Congressional Quarterly, the legislation would "ma[de] permanent [...] [t]he 'above the line' deduction for teachers for up to $250 in out-of-pocket classroom expenses, including modifications beginning in 2016 that would adjust the deduction amount for inflation based on the consumer price index for 2014 and allow the deduction to include professional development expenses ($2.9 billion, an estimate that includes interaction with Section 179 expensing and bonus depreciation)." The underlying measure would "retroactively [renew] for the current 2015 tax year most of the expired provisions and further extends them for varying periods, including by making more than a dozen permanent and extending most others for two years (2015 and 2016)." The vote was on concurring in the Senate amendment to the bill with an amendment. The House passed the amendment by a vote of 318 to 109. The legislation was later combined with an Omnibus appropriations bill. The Senate passed the larger measure and the president signed it. [House Vote 703, 12/17/15; Congressional Quarterly, 12/16/15; Congressional Actions, H.R. 2029]